Are we in the midst of a recession?
A recession is defined as a period of economic decline in business activity and the financial wizards can’t agree whether Canadians are experiencing a contraction of our business cycle.
I’m certainly no expert, but I can assure you if you believe we’re well into a recession, think again.
Better yet, spend a day or two in the Yorkville district of Toronto, as Carol and I did last week.
For a treat, we booked into an upscale hotel and set about wandering Yorkville, which is bordered by the country’s premiere shopping zone, Bloor Street.
I can testify that what I observed was in no way indicative of an economic slowdown.
As I sat at a trendy patio on Cumberland Street, sipping a $15 martini (that’s right, $15 … a couple of those are worth a whole bottle of vodka) while watching the glitterati cruise past in their Porches and BMWs, I wondered where anyone came up with the idea that a recession was upon us.
Someone forgot to let this segment of society in on the scoop.
A walk around that neighbourhood confirmed my belief. We saw several condominium projects under construction with signs that announced, “Condos from $3.5 to $7 million.”
Who buys these apartments in the sky? I didn’t check, but I’m fairly sure I could not afford the monthly condo fees on one of these luxury residences, let alone the mortgage.
We continued our mini-vacation by being on the lookout for Brad and Angelina. After all, we couldn’t afford to stay at the Four Seasons, but I was certain somebody famous had to be there and they just might be having dinner in the same nearby restaurant as us.
And I was right. There they were, Brad and Angelina, sans kids, digging into a plate of over-priced pasta. Turns out it was Brad Kwiatowski and Angie Axelsson, two investment bankers who couldn’t resist boasting about upcoming million-dollar deals that close in September and how much it meant to their ladder-climbing careers.
In addition to dining and a wee bit of shopping, we also paid a visit to the Royal Ontario Museum.
Last year, the ROM unveiled a new expansion, the Michael Lee-Chin Crystal, constructed of interlocking prismatic forms.
In a word, it’s hideous, both outside and inside. It adds nothing worthwhile to the classic architecture of the original facility.
The ROM bills itself as one of the world’s great museums (their description, not mine) and once upon a time, it might have been … but it’s a far cry from that now. I have visited many museums from Ottawa, to Washington, D.C., to London, England, to New York City.
They achieve greatness by the quality of their exhibits, not by attaching a $135-million chunk of glass and aluminum to the side of a wonderful 1914 structure.
I’m no expert, but I know what I like and it sure isn’t this.
Save yourself a drive and make your next museum visit to the Simcoe County Museum, just outside of Barrie. It’s full of local history, its new addition does not offend the eye, admission is only $4, and I don’t think you will find a $15 martini for miles.
